India allows LIC to hold up to 30 pct in companies

Reuters Staff

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MUMBAI, Nov 21 (Reuters) - The Indian government has allowed state-run Life Insurance Corp to hold up to 30 percent in companies from 10 percent currently, banking secretary D.K. Mittal said on Wednesday.

The benchmark BSE index rose 0.72 percent, or 131.06 points, to end at 18,460.38.

The broader NSE index rose 0.78 percent, or 43.25 points, to end at 5614.80, closing above the psychologically important 5,600 level. (Reporting by Arup Roychoudhury in New Delhi; Editing by Anupama Dwivedi)